US consumer confidence exceeded forecasts in May

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In May, the consumer confidence index in the United States reached its highest level since September 2018 – 100 points compared to 97.2 points in the previous month. Such final data was provided by the University of Michigan. Forecasts of economists suggested an increase in the index to 101.5 points. The final index value was lowered from a preliminary assessment of 102.4 points against the background of the aggravation of the US-China trade dispute, which adversely affected the mood of American citizens. Americans worsened their attitude to the current financial situation to 110 points from 112.3 points. For the next 6 months, their expectations rose to 93.5 points from 87.4 points. US citizens have raised their inflation forecast for the next 12 months to 2.9% from 2.5%, for the long-term, they expect inflation at 2.6%, rather than 2.3%, as it was predicted earlier.

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